Goodman Group has gulped down Farmer John’s former manufacturing plant that made L.A. Dodger dogs in Vernon for $209 million.
Goodman North America, a unit of the Australia-based developer, has agreed to buy the 29-acre plant at 3049, 3095 and 3163 East Vernon Avenue, the Commercial Observer reported, citing unidentified sources. The seller was Smithfield Foods, based in Virginia.
Smithfield, a unit of China-based WH Group, closed the 350,500-square-foot meatpacking plant in February, citing the cost of doing business in California. The Farmer John brand was an L.A. icon, producing the official Dodger Dog until 2021.
Colliers announced the sale but declined to share the sales price, which was ferreted out by the Commercial Observer from sources familiar with the deal.
The brokerage said the former home to one of Southern California’s largest food-processing plants is “primed for a generational redevelopment.” The newspaper said it would likely be redeveloped into a large industrial park.
Brokers Kendall, Gian Bruno and Kenny Patricia of Colliers represented both Smithfield Foods and Goodman North America in the deal.
The industrial market in Los Angeles now tops the nation for the most expensive property.This year through May, Greater L.A. recorded the highest average sales price in the nation at $417 per square foot. It also marked the second-highest sales volume in the nation behind the Inland Empire.
— Dana Bartholomew
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